Coinbase

Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. Armstrong enrolled in the Y Combinator startup incubator program and received a US$150,000 cash infusion.{{Cite news |date=March 26, 2014 |title=The Fierce Battle for the Soul of Bitcoin |magazine=Wired|url=https://www.wired.com/2014/03/what-is-bitcoin/ |accessdate=March 26, 2021 |archive-date=August 27, 2020 |archive-url=https://web.archive.org/web/20200827023226/https://www.wired.com/2014/03/what-is-bitcoin/ |url-status=live}} Fred Ehrsam, a former Goldman Sachs trader, later joined as a co-founder after noticing Armstrong's posts on Reddit.{{Cite web |last=Popper |first=Nathaniel |date=27 November 2020 |title='Tokenized': Inside Black Workers' Struggles at the King of Crypto Start-Ups |url=https://www.nytimes.com/2020/11/27/technology/coinbase-cryptocurrency-black-employees.html |website=The New York Times |access-date=December 10, 2020 |archive-date=December 10, 2020 |archive-url=https://web.archive.org/web/20201210021511/https://www.nytimes.com/2020/11/27/technology/coinbase-cryptocurrency-black-employees.html |url-status=live}}{{Cite web |title=Dish Network Says It Will Accept Bitcoin |url=https://dealbook.nytimes.com/2014/05/29/dish-network-to-accept-bitcoin/ |access-date=July 1, 2014 |website=The New York Times |date=May 29, 2014 |archive-date=June 5, 2014 |archive-url=https://web.archive.org/web/20140605022524/http://dealbook.nytimes.com/2014/05/29/dish-network-to-accept-bitcoin/ |url-status=live}}{{Cite web |last=Leising |first=Matthew |date=2021-03-01 |title=Coinbase mafia shows how tight a circle holds sway over Bitcoin |url=https://www.japantimes.co.jp/news/2021/03/01/business/tech/coinbase-bitcoin-control/ |access-date=2022-10-26 |website=The Japan Times |language=en-US |archive-date=May 7, 2022 |archive-url=https://web.archive.org/web/20220507082552/https://www.japantimes.co.jp/news/2021/03/01/business/tech/coinbase-bitcoin-control/ |url-status=live }}{{Cite web |last=Locke |first=Taylor |title=The Coinbase co-founders met on Reddit and launched the company out of a two-bedroom apartment when 'a bitcoin was worth $6' |url=https://www.cnbc.com/2021/04/14/coinbase-co-founders-launched-when-a-bitcoin-btc-was-worth-6.html |access-date=2022-10-26 |website=CNBC |date=April 14, 2021 |language=en |archive-date=October 26, 2022 |archive-url=https://web.archive.org/web/20221026063419/https://www.cnbc.com/2021/04/14/coinbase-co-founders-launched-when-a-bitcoin-btc-was-worth-6.html |url-status=live}}{{Cite web |title=Coinbase: Brian Armstrong — How I Built This with Guy Raz |url=https://wondery.com/shows/how-i-built-this/ |access-date=2022-10-26 |website=wondery.com |language=en |archive-date=October 26, 2022 |archive-url=https://web.archive.org/web/20221026063420/https://wondery.com/shows/how-i-built-this/?utm_source=rss |url-status=live}} British programmer and Blockchain.info co-founder Ben Reeves was originally supposed to be part of the Coinbase founding team, but parted ways with Armstrong just before the Y Combinator funding event, due to their different stands on how the Coinbase wallet{{Cite web |title=Coinbase Wallet Delists ETC, BCH and XRP |date=November 30, 2022 |url=https://www.btcc.com/en-US/coin-news/market-updates/coinbase-wallet-delists-etc-bch-and-xrp-crypto-news |access-date=2022-11-30 |language=en |archive-date=December 29, 2022 |archive-url=https://web.archive.org/web/20221229054350/https://www.btcc.com/en-US/coin-news/market-updates/coinbase-wallet-delists-etc-bch-and-xrp-crypto-news |url-status=live}} should operate. The company is named after coinbase transactions, which are special transactions that introduce cryptocurrency into circulation in proof of work cryptocurrencies.{{Cite book |last=Antonopoulos, Andreas M. |title=Mastering Bitcoin: Unlocking Digital Crypto-Currencies |year=2014 |publisher=O'Reilly Media |isbn=978-1-4493-7404-4 |author-link=Andreas Antonopoulos}}{{rp|ch. 8}} In October 2012, the company launched the services to buy and sell bitcoins through bank transfers.{{Cite news |last=Ludwig |first=Sean |date=February 8, 2013 |title=Y Combinator-backed Coinbase now selling over $1M Bitcoins per month |work=VentureBeat |url=https://venturebeat.com/2013/02/08/coinbase-bitcoin/ |access-date=August 30, 2017 |archive-date=April 9, 2014 |archive-url=https://web.archive.org/web/20140409031255/http://venturebeat.com/2013/02/08/coinbase-bitcoin/ |url-status=live}}

In May 2013, Coinbase received a US$5 million Series A investment led by Fred Wilson from the venture capital firm Union Square Ventures.{{Cite news |last=Needleman, Sarah E. |date=May 7, 2013 |title=Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup |work=The Wall Street Journal |url=https://blogs.wsj.com/venturecapital/2013/05/07/coinbase-nabs-5m-in-biggest-funding-for-bitcoin-startup/ |access-date=October 10, 2014 |archive-date=October 16, 2014 |archive-url=https://web.archive.org/web/20141016061215/http://blogs.wsj.com/venturecapital/2013/05/07/coinbase-nabs-5m-in-biggest-funding-for-bitcoin-startup/ |url-status=live}} In December, the company received a US$25 million investment from the venture capital firm Andreessen Horowitz, Union Square Ventures (USV), and Ribbit Capital.{{Cite news |last=Alex Williams |date=December 12, 2013 |title=Coinbase Raises $25M Led By Andreessen Horowitz To Build Its Bitcoin Wallet And Merchant Services |work=TechCrunch |url=https://techcrunch.com/2013/12/12/coinbase-raises-25m-from-andreessen-horowitz-to-build-its-bitcoin-wallet-and-merchant-services/ |access-date=December 13, 2013 |archive-date=December 13, 2013 |archive-url=https://web.archive.org/web/20131213062324/http://techcrunch.com/2013/12/12/coinbase-raises-25m-from-andreessen-horowitz-to-build-its-bitcoin-wallet-and-merchant-services/ |url-status=live}} Olaf Carlson-Wee, a graduate from Vassar College, was hired as the first employee in the same year.{{Cite web |last=Tom |first=Huddleston Jr.|date=2021-04-14 |title=Coinbase's first employee in 2013 cold-emailed the founders for a job — and was paid in bitcoin for 3 years |url=https://www.cnbc.com/2021/04/14/coinbases-first-employee-cold-emailed-founders-was-paid-in-bitcoin.html |access-date=May 15, 2021 |website=CNBC |language=en |archive-date=May 15, 2021 |archive-url=https://web.archive.org/web/20210515132902/https://www.cnbc.com/2021/04/14/coinbases-first-employee-cold-emailed-founders-was-paid-in-bitcoin.html|url-status=live}}

In 2014, Coinbase grew to one million users, acquired the blockchain explorer service Blockr and the web bookmarking company Kippt, secured insurance covering the value of bitcoin stored on their servers and launched the vault system for secure bitcoin storage.{{Cite news |last=Cutler |first=Kim-Mai |date=May 6, 2014 |title=Coinbase Acquires YC-Backed Kippt To Beef Up Its Product, Design Talent |work=TechCrunch |url=https://techcrunch.com/2014/05/06/coinbase-kippt/ |access-date=June 25, 2017 |archive-date=August 30, 2017 |archive-url=https://web.archive.org/web/20170830152151/https://techcrunch.com/2014/05/06/coinbase-kippt/ |url-status=live}}{{Cite news |last=Cutler |first=Kim-Mai |date=August 18, 2014 |title=Coinbase Acquires Blockchain Explorer Blockr.io |url=https://techcrunch.com/2014/08/18/coinbase-acquires-blockchain-explore-blockr-io/ |access-date=June 25, 2017 |archive-date=August 30, 2017 |archive-url=https://web.archive.org/web/20170830152909/https://techcrunch.com/2014/08/18/coinbase-acquires-blockchain-explore-blockr-io/ |url-status=live}}{{Cite news |last=Knight |first=Shawn |date=September 1, 2014 |title=Coinbase has been insuring Bitcoin deposits for nearly a year |work=TechSpot |url=http://www.techspot.com/news/57905-coinbase-has-been-insuring-bitcoin-deposits-for-nearly-a-year.html |access-date=May 5, 2015 |archive-date=July 6, 2015 |archive-url=https://web.archive.org/web/20150706232131/http://www.techspot.com/news/57905-coinbase-has-been-insuring-bitcoin-deposits-for-nearly-a-year.html |url-status=live}} Throughout 2014, the company also partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc. allowing those firms to accept bitcoin payments.{{Cite news |last=Burns |first=Matt |date=December 21, 2013 |title=Overstock.com partners with Coinbase and starts accepting bitcoins as payment |work=TechCrunch |url=https://techcrunch.com/2014/01/09/overstock-com-partners-with-coinbase-and-starts-accepting-bitcoins-as-payment/ |access-date=January 10, 2014 |archive-date=January 10, 2014 |archive-url=https://web.archive.org/web/20140110052335/http://techcrunch.com/2014/01/09/overstock-com-partners-with-coinbase-and-starts-accepting-bitcoins-as-payment/ |url-status=live}}{{Cite web |last=Kharif |first=Olga |title=Expedia to Accept Bitcoins for Online Hotel Bookings |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a05Xc5wETyCQ |access-date=September 28, 2014 |website=Bloomberg |archive-date=February 7, 2015 |archive-url=https://web.archive.org/web/20150207031538/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a05Xc5wETyCQ |url-status=live}}{{Cite web |date=June 11, 2014 |title=Expedia.com Now Accepts Bitcoin to Give Travelers More Choice and Flexibility in Hotel Payments |url=https://www.bloomberg.com/article/2014-06-11/aWtdncvD7qwQ.html |access-date=September 28, 2014 |website=Bloomberg |archive-date=February 7, 2015 |archive-url=https://web.archive.org/web/20150207031542/http://www.bloomberg.com/article/2014-06-11/aWtdncvD7qwQ.html |url-status=live}}{{Cite news |last=Wilhelm |first=Alex |date=July 18, 2014 |title=Dell Now Accepts Bitcoin For All Online U.S. Purchases |work=TechCrunch |url=https://techcrunch.com/2014/07/18/dell-now-accepts-bitcoin-for-all-online-u-s-purchases/ |access-date=July 24, 2014 |archive-date=July 24, 2014 |archive-url=https://web.archive.org/web/20140724142848/http://techcrunch.com/2014/07/18/dell-now-accepts-bitcoin-for-all-online-u-s-purchases/ |url-status=live}} In the same year, the company also added bitcoin payment processing capabilities to the traditional payment companies Stripe, Braintree, and PayPal.{{Cite news |last=Del Rey |first=Jason |date=March 27, 2014 |title=Stripe Merchants Will Soon Be Able to Accept Bitcoin Payments |work=Recode |url=http://recode.net/2014/03/27/stripe-merchants-will-soon-be-able-to-accept-bitcoin-payments/ |access-date=May 5, 2015 |archive-date=March 30, 2014 |archive-url=https://web.archive.org/web/20140330192524/http://recode.net/2014/03/27/stripe-merchants-will-soon-be-able-to-accept-bitcoin-payments/ |url-status=live}}{{Cite web |date=2014-09-11 |title=Paypal to accept bitcoin through subsidiary Braintree |url=http://www.theguardian.com/technology/2014/sep/11/paypal-bitcoin-braintree-overstock-reddit |access-date=2021-05-15 |website=the Guardian |language=en|archive-date=May 15, 2021 |archive-url=https://web.archive.org/web/20210515133109/https://www.theguardian.com/technology/2014/sep/11/paypal-bitcoin-braintree-overstock-reddit |url-status=live}} In January 2014, Coinbase Global, Inc. was incorporated in Delaware as a holding company for Coinbase and its subsidiaries. The corporate reorganization that saw Coinbase become a subsidiary of Coinbase Global was completed in April of that year.

In January 2015, Coinbase received a US$75 million investment, led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banks.{{Cite news |last1=Vigna, Paul |last2=Casey, Michael |date=January 20, 2015 |title=Coinbase raises 75 million in funding round |work=Wall Street Journal |url=https://www.wsj.com/articles/coinbase-raises-75-million-in-funding-round-1421762403 |access-date=March 6, 2017 |archive-date=December 4, 2016 |archive-url=https://web.archive.org/web/20161204143621/http://www.wsj.com/articles/coinbase-raises-75-million-in-funding-round-1421762403 |url-status=live}} Later in January, the company launched a U.S.-based bitcoin exchange for professional traders called Coinbase Exchange.{{Cite news |last=Bensinger, Greg |date=January 25, 2015 |title=First U.S. Bitcoin Exchange Set to Open |work=Wall Street Journal |url=https://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641 |access-date=March 6, 2017 |archive-date=January 12, 2017 |archive-url=https://web.archive.org/web/20170112061804/http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641 |url-status=live}} In September, Coinbase began to offer services in Canada and Singapore.{{Cite news |title=Coinbase launches retail bitcoin service in Singapore, Canada |language=en |work=Reuters |url=https://www.reuters.com/article/usa-bitcoin-coinbase/coinbase-launches-retail-bitcoin-service-in-singapore-canada-idUSL1N1182G420150902 |date=September 2, 2015 |access-date=September 14, 2021 |archive-date=November 8, 2021 |archive-url=https://web.archive.org/web/20211108233442/https://www.reuters.com/article/usa-bitcoin-coinbase/coinbase-launches-retail-bitcoin-service-in-singapore-canada-idUSL1N1182G420150902 |url-status=live}}

In May 2016, Coinbase rebranded the Coinbase Exchange, changing the name to Global Digital Asset Exchange (GDAX).{{Cite web |title=GDAX – Trusted Digital Asset Exchange |url=https://www.gdax.com |url-status=dead |archive-url=https://web.archive.org/web/20170603055438/https://www.gdax.com/ |archive-date=June 3, 2017 |access-date=June 7, 2017 |website=GDAX}} In July, they added retail support for Ether.{{Cite news |last=Tepper |first=Fitz |date=July 21, 2016 |title=Coinbase is adding support for Ethereum |work=TechCrunch |url=https://techcrunch.com/2016/07/21/coinbase-is-adding-support-for-ethereum/ |access-date=July 23, 2016 |archive-date=July 22, 2016 |archive-url=https://web.archive.org/web/20160722122543/https://techcrunch.com/2016/07/21/coinbase-is-adding-support-for-ethereum/ |url-status=live}} Also, in July, they announced they would halt services in August after the closure of Canadian online payments service provider Vogogo.{{Cite web |title=Coinbase! |url=https://read.cash/@Writer/coinbase-e45161aa |access-date=September 20, 2020 |website=read.cash |language=en |archive-date=December 9, 2021 |archive-url=https://web.archive.org/web/20211209200325/https://read.cash/@Writer/coinbase-e45161aa |url-status=live}}

In January and then March 2017, Coinbase obtained BitLicense and was licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services (DFS).{{Cite web |last=Suarez |first=Juan |date=January 17, 2017 |title=Coinbase obtains the Bitlicense |url=https://blog.coinbase.com/coinbase-obtains-the-bitlicense-f1c3e35c4d75 |access-date=June 10, 2017 |website=Coinbase |archive-date=July 12, 2017 |archive-url=https://web.archive.org/web/20170712085249/https://blog.coinbase.com/coinbase-obtains-the-bitlicense-f1c3e35c4d75 |url-status=live}}{{Cite web |date=March 22, 2017 |title=DFS authorizes Coinbase, Inc. to provide additional virtual currency products and services |url=http://www.dfs.ny.gov/about/press/pr1703221.htm |url-status=dead |archive-url=https://web.archive.org/web/20180518172931/https://www.dfs.ny.gov/about/press/pr1703221.htm |archive-date=May 18, 2018 |access-date=May 26, 2017 |website=New York State Department of Financial Services}} In November, Coinbase was ordered by the U.S. Internal Revenue Service (IRS) to report any users who had at least US$20,000 in transactions in a year.{{Cite news |title=Coinbase ordered to report 14,355 users to the IRS |work=The Verge |url=https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records |access-date=November 19, 2017 |archive-date=November 30, 2017 |archive-url=https://web.archive.org/web/20171130000921/https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records |url-status=live}} On December 19, Coinbase listed Bitcoin Cash, and the Coinbase platform experienced price abnormalities that led to an insider trading investigation.{{Cite news |last=Osipovich |first=Alexander |date=December 20, 2017 |title=Coinbase may have given away its own Bitcoin Cash surprise |publisher=TechCrunch |url=https://techcrunch.com/2017/12/20/coinbase-bch-bitcoin-cash-api-reddit/ |access-date= November 2, 2019 |archive-date=November 4, 2019 |archive-url=https://web.archive.org/web/20191104010741/https://techcrunch.com/2017/12/20/coinbase-bch-bitcoin-cash-api-reddit/ |url-status=live }}

On February 23, 2018, Coinbase told approximately 13,000 affected customers that the company would be providing their taxpayer ID, name, birth date, address, and historical transaction records from 2013 to 2015 to the IRS within 21 days. In March, Coinbase appointed Emilie Choi, a former LinkedIn executive, as Vice President of Corporate and Business Development.{{Cite web |title=Coinbase has hired LinkedIn's M&A boss to spearhead new acquisitions |url=https://techcrunch.com/2018/03/05/coinbase-has-hired-linkedins-ma-boss-to-spearhead-new-acquisitions/ |access-date=May 15, 2021 |website=TechCrunch |date=March 5, 2018 |language=en-US|archive-date=December 23, 2021 |archive-url=https://web.archive.org/web/20211223083739/https://techcrunch.com/2018/03/05/coinbase-has-hired-linkedins-ma-boss-to-spearhead-new-acquisitions/ |url-status=live}} She was promoted to the role of president and chief operating officer in May 2019.{{Cite web |date=September 10, 2019 |title=Coinbase Hires New VP of Business to Fill Emilie Choi's Shoes |url=https://www.financemagnates.com/executives/moves/coinbase-hires-new-vp-of-business-to-fill-emilie-chois-shoes/ |access-date=May 15, 2021 |website=Finance Magnates {{!}} Financial and business news |language=en |archive-date=May 15, 2021 |archive-url=https://web.archive.org/web/20210515142138/https://www.financemagnates.com/executives/moves/coinbase-hires-new-vp-of-business-to-fill-emilie-chois-shoes/ |url-status=live}} On March 26, 2018, Coinbase announced their intention to add support for Ethereum ERC-20 tokens.{{Cite news |date=March 26, 2018 |title=Adding ERC20 Support to Coinbase |work=The Coinbase Blog |url=https://blog.coinbase.com/adding-erc20-support-to-coinbase-fe9cba6782b |access-date=April 27, 2018 |archive-date=March 27, 2018 |archive-url=https://web.archive.org/web/20180327133346/https://blog.coinbase.com/adding-erc20-support-to-coinbase-fe9cba6782b |url-status=live}} On April 5, 2018, Coinbase announced that it had formed an early-stage venture fund, Coinbase Ventures, focusing on investment into blockchain- and cryptocurrency-related companies.{{Cite news |last=Choi |first=Emilie |date=April 5, 2018 |title=Introducing Coinbase Ventures |work=The Coinbase Blog |url=https://blog.coinbase.com/introducing-coinbase-ventures-c67865a1d2fe |access-date=November 11, 2018 |archive-date=June 28, 2018 |archive-url=https://web.archive.org/web/20180628031414/https://blog.coinbase.com/introducing-coinbase-ventures-c67865a1d2fe |url-status=live}}{{Cite news |last=Rooney |first=Kate |date=April 5, 2018 |title=Bitcoin exchange Coinbase launches early-stage venture fund |work=CNBC |url=https://www.cnbc.com/2018/04/05/bitcoin-exchange-coinbase-launches-early-stage-investment-venture.html |access-date=November 11, 2018 |archive-date=November 11, 2018 |archive-url=https://web.archive.org/web/20181111133741/https://www.cnbc.com/2018/04/05/bitcoin-exchange-coinbase-launches-early-stage-investment-venture.html |url-status=live}} On May 16, Coinbase Ventures announced its first investment in Compound Labs, a start-up building Ethereum smart contracts similar to money markets.{{Cite news |date=May 16, 2018 |title=Coinbase's first investment, Compound, earns you interest on crypto |work=Techcrunch |url=https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/ |access-date=May 16, 2018 |archive-date=May 16, 2018 |archive-url=https://web.archive.org/web/20180516230213/https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/ |url-status=live}} On May 23, GDAX was rebranded as Coinbase Pro.{{cite web |url=https://blog.coinbase.com/announcing-coinbase-pro-6773bc3bf99c |title=Announcing Coinbase Pro |website=Coinbase Blog |first=David |last=Farmer |date=May 23, 2018 |archive-url=https://archive.today/20210205083556/https://blog.coinbase.com/announcing-coinbase-pro-6773bc3bf99c |archive-date=February 5, 2021 |url-status=live}} Also in May, Coinbase launched Prime, a platform dedicated to institutional customers.{{cite web |url=https://techcrunch.com/2018/05/15/coinbase-goes-after-wall-street/ |title=Coinbase goes after Wall Street with new services for institutional investors |website=TechCrunch |date=May 15, 2018 |access-date=March 22, 2021 |archive-date=May 13, 2021 |archive-url=https://web.archive.org/web/20210513014713/https://techcrunch.com/2018/05/15/coinbase-goes-after-wall-street/ |url-status=live}} In August, Amazon cloud executive Tim Wagner joined Coinbase as vice president of engineering.{{Cite news |last=Sheetz |first=Michael |date=August 6, 2018 |title=Amazon cloud executive Tim Wagner joins crypto platform Coinbase |work=CNBC |url=https://www.cnbc.com/2018/08/06/amazon-cloud-executive-tim-wagner-joins-crypto-platform-coinbase.html |access-date=August 7, 2018 |archive-date=August 6, 2018 |archive-url=https://web.archive.org/web/20180806231251/https://www.cnbc.com/2018/08/06/amazon-cloud-executive-tim-wagner-joins-crypto-platform-coinbase.html |url-status=live}} In September, Coinbase, along with Circle and bitcoin miner company Bitmain, was part of a consortium called Centre that launched a digital coin called USD Coin, pegged to the U.S. dollar.{{Cite news |last=Kharif |first=Olga |date=September 26, 2018 |title=Circle Joins Ranks of Stable Crypto Coins With Dollar Token |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2018-09-26/circle-joins-ranks-of-stable-crypto-coins-with-dollar-token |access-date=March 26, 2021|archive-date=June 6, 2020 |archive-url=https://web.archive.org/web/20200606095245/https://www.bloomberg.com/news/articles/2018-09-26/circle-joins-ranks-of-stable-crypto-coins-with-dollar-token |url-status=live}}{{Cite web |last=Kharif |first=Olga |date=October 29, 2018 |title=Stable Coin Backed by Circle, Coinbase Draws Most Early Demand |url=https://www.bloomberg.com/news/articles/2018-10-29/stable-coin-backed-by-circle-coinbase-draws-most-early-demand |access-date=June 6, 2020 |website=Bloomberg News |archive-date=June 6, 2020 |archive-url=https://web.archive.org/web/20200606095253/https://www.bloomberg.com/news/articles/2018-10-29/stable-coin-backed-by-circle-coinbase-draws-most-early-demand |url-status=live}}

In January 2019, Coinbase stopped all trading on Ethereum Classic due to a suspicion of an attack on the network.{{Cite web |title=Coinbase freezes Ethereum Classic trading following attack |url=https://techcrunch.com/2019/01/07/coinbase-ethereum-classic-freeze/ |access-date=January 8, 2019 |website=TechCrunch |date=January 8, 2019 |language=en-US |archive-date=January 9, 2019 |archive-url=https://web.archive.org/web/20190109042208/https://techcrunch.com/2019/01/07/coinbase-ethereum-classic-freeze/ |url-status=live}} In February, Coinbase announced that it had acquired "blockchain intelligence platform" Neutrino, an Italy-based startup, for an undisclosed price.{{Cite web |last=Russell |first=Jon |title=Coinbase buys blockchain intelligence startup to boost security and new asset discovery |url=https://techcrunch.com/2019/02/19/coinbase-buys-neutrino/ |access-date=March 7, 2019 |website=TechCrunch |date=February 19, 2019 |archive-date=March 7, 2019 |archive-url=https://web.archive.org/web/20190307163008/https://techcrunch.com/2019/02/19/coinbase-buys-neutrino/ |url-status=live}} The acquisition raised concern among some Coinbase users{{Cite web |last1=Franceschi-Bicchierai |first1=Lorenzo |last2=Pearson |first2=Jordan |last3=Maiberg |first3=Emanuel |date=February 26, 2019 |title=Former Hacking Team Members Are Now Spying on the Blockchain for Coinbase |url=https://www.vice.com/en/article/coinbase-neutrino-former-hacking-team-members/ |access-date=March 7, 2019 |website=Motherboard |archive-date=March 7, 2019 |archive-url=https://web.archive.org/web/20190307162359/https://motherboard.vice.com/en_us/article/a3bn5e/coinbase-neutrino-former-hacking-team-members |url-status=live}} based on Neutrino founders' connection to the HackingTeam, which has been accused of providing internet surveillance technology to governments with poor human rights records.{{Cite web |last1=Currier |first1=Cora |last2=Marquis-Boire |first2=Morgan |date=July 7, 2015 |title=A Detailed Look at Hacking Team's Emails About Its Repressive Clients |url=https://theintercept.com/2015/07/07/leaked-documents-confirm-hacking-team-sells-spyware-repressive-countries/ |access-date=March 7, 2019 |website=The Intercept |archive-date=March 7, 2019 |archive-url=https://web.archive.org/web/20190307162359/https://theintercept.com/2015/07/07/leaked-documents-confirm-hacking-team-sells-spyware-repressive-countries/ |url-status=live}} On March 4, Coinbase CEO Brian Armstrong said his company "did not properly evaluate" the deal from a due diligence perspective and thus any Neutrino staff who previously worked at Hacking Team "will transition out of Coinbase."{{Cite web |last=Armstrong |first=Brian |date=March 5, 2019 |title=Living up to our values and the Neutrino acquisition |url=https://blog.coinbase.com/living-up-to-our-values-and-the-neutrino-acquisition-ba98174cdcf6 |access-date=March 7, 2019 |website=The Coinbase Blog |archive-date=March 5, 2019 |archive-url=https://web.archive.org/web/20190305134602/https://blog.coinbase.com/living-up-to-our-values-and-the-neutrino-acquisition-ba98174cdcf6 |url-status=live}} In August, Coinbase announced that it was targeted by a hacking attack attempt in mid-June. This reported attack used spear-phishing and social engineering tactics (including sending fake e-mails from compromised email accounts and creating a landing page at the University of Cambridge) and two Firefox browser zero-day vulnerabilities. One of the Firefox vulnerabilities could allow an attacker to escalate privileges from JavaScript on a browser page ({{Common Vulnerabilities and Exposures ID |2019–11707}}) and the other, could allow the attacker to escape the browser sandbox and execute code on the host computer ({{Common Vulnerabilities and Exposures ID |2019–11708}}). Coinbase's security team detected and blocked the attack, the network was not compromised, and no cryptocurrency was stolen.{{Cite web |last=Orcutt |first=Mike |date=August 8, 2019 |title=An attempted heist at Coinbase was scary good, even though it failed |url=https://www.technologyreview.com/s/614094/an-attempted-heist-at-coinbase-was-scary-good-even-though-it-failed/ |access-date=August 22, 2019 |publisher=MIT Technology Review |archive-date=August 19, 2019 |archive-url=https://web.archive.org/web/20190819033802/https://www.technologyreview.com/s/614094/an-attempted-heist-at-coinbase-was-scary-good-even-though-it-failed/ |url-status=live}}{{Cite web |last=Nichols |first=Shaun |date=June 20, 2019 |title=Digi-dosh exchange Coinbase: Someone tried to pwn our staff via this week's Firefox zero-day security hole |url=https://www.theregister.co.uk/2019/06/20/coinbase_firefox_zero_day/ |access-date=August 22, 2019 |publisher=The Register |archive-date=June 23, 2019 |archive-url=https://web.archive.org/web/20190623224011/https://www.theregister.co.uk/2019/06/20/coinbase_firefox_zero_day/ |url-status=live}}{{Cite web |last=Martin |first=Philip |date=August 8, 2019 |title=Responding to Firefox 0-days in the wild |url=https://blog.coinbase.com/responding-to-firefox-0-days-in-the-wild-d9c85a57f15b |access-date=August 13, 2019 |archive-date=August 10, 2019 |archive-url=https://web.archive.org/web/20190810133034/https://blog.coinbase.com/responding-to-firefox-0-days-in-the-wild-d9c85a57f15b |url-status=live}}

In May 2020, during the COVID-19 pandemic, Coinbase announced it was shifting completely to remote work and would no longer recognize a formal headquarters.{{cite web |url=https://www.hrdive.com/news/coinbase-aims-to-support-inclusion-with-a-remote-first-workforce/596884/ |title=Coinbase aims to support inclusion with a remote-first workforce |website=HR Dive |date=March 17, 2021 |access-date=March 26, 2021 |archive-date=April 15, 2021 |archive-url=https://web.archive.org/web/20210415180959/https://www.hrdive.com/news/coinbase-aims-to-support-inclusion-with-a-remote-first-workforce/596884/ |url-status=live}} Also in May, the company announced the acquisition of New York-based digital asset trading firm Tagomi for a price between US$75 and US$100 million.{{Cite web |date=May 27, 2020 |title=Coinbase Expands Institutional Services With Tagomi Purchase |url=https://www.bloomberg.com/news/articles/2020-05-27/coinbase-expands-institutional-services-with-tagomi-purchase |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210414202654/https://www.bloomberg.com/news/articles/2020-05-27/coinbase-expands-institutional-services-with-tagomi-purchase |archive-date=April 14, 2021 |work=Bloomberg News}} In June, Coinbase received internal backlash after CEO Brian Armstrong initially refused to make a statement about Black Lives Matter, citing the company's apolitical culture, but Armstrong later reversed his course on Twitter.{{Cite news |title=Inside the Turmoil Over 'Black Lives Matter' at Coinbase |language=en-us |magazine=Wired |url=https://www.wired.com/story/turmoil-black-lives-matter-political-speech-coinbase/ |access-date=December 24, 2020 |issn=1059-1028 |archive-date=December 22, 2020 |archive-url=https://web.archive.org/web/20201222051526/https://www.wired.com/story/turmoil-black-lives-matter-political-speech-coinbase/ |url-status=live}} In September, Armstrong published a blog post emphasizing that Coinbase would not engage in social activism, citing that such activism had hurt other technology firms such as Google and Facebook, and offered a severance package for those who disagreed with this direction.{{Cite web |last=Armstrong |first=Brian |date=October 8, 2020 |title=Coinbase is a mission-focused company |url=https://blog.coinbase.com/coinbase-is-a-mission-focused-company-af882df8804 |access-date=December 14, 2020 |website=Medium |language=en |archive-date=October 8, 2020 |archive-url=https://web.archive.org/web/20201008200012/https://blog.coinbase.com/coinbase-is-a-mission-focused-company-af882df8804 |url-status=live}} The company also faced complaints by employees saying they were treated unfairly due to their race or gender.{{Cite news |last=Popper |first=Nathaniel |date=December 29, 2020 |title=Cryptocurrency Start-Up Underpaid Women and Black Employees, Data Shows |language=en-US |work=The New York Times |url=https://www.nytimes.com/2020/12/29/technology/coinbase-pay-employees.html |access-date=May 15, 2021 |issn=0362-4331 |archive-date=December 30, 2020 |archive-url=https://web.archive.org/web/20201230180319/https://www.nytimes.com/2020/12/29/technology/coinbase-pay-employees.html |url-status=live}}

In October, Coinbase announced the launch of a Visa debit card program.{{Cite web |last=Chin |first=Monica |date=October 28, 2020 |title=Coinbase launches its cryptocurrency Visa debit card in the US |url=https://www.theverge.com/2020/10/28/21538278/coinbase-card-visa-debit-cryptocurrency-bitcoin-stellar-lumen-spending-money |access-date=October 28, 2020 |website=The Verge |language=en |archive-date=October 28, 2020 |archive-url=https://web.archive.org/web/20201028202657/https://www.theverge.com/2020/10/28/21538278/coinbase-card-visa-debit-cryptocurrency-bitcoin-stellar-lumen-spending-money |url-status=live}} In December, The New York Times reported that based upon data up to 2018 (already two years old as of the date of publication) women at Coinbase were paid an average of eight percent less than men at comparable jobs and ranks within the company, and Black employees were paid seven percent less than those in similar roles.{{cite news |last1=Popper |first1=Nathaniel |title=Cryptocurrency Start-Up Underpaid Women and Black Employees, Data Shows |url=https://www.nytimes.com/2020/12/29/technology/coinbase-pay-employees.html?action=click&module=Well&pgtype=Homepage§ion=Technology |access-date=December 30, 2020 |work=New York Times |date=December 29, 2020 |archive-date=December 31, 2020 |archive-url=https://web.archive.org/web/20201231123733/http://www.nytimes.com/2020/12/29/technology/coinbase-pay-employees.html?action=click&module=Well&pgtype=Homepage§ion=Technology |url-status=live}}{{Cite web |date=December 19, 2020 |title=Coinbase app Listed in US Trade Market - The Thinkera |url=https://www.thethinkera.com/tech-gadgets/coinbase-app-listed-in-us-trade-market/ |access-date=March 9, 2021 |language=en-US |archive-date=July 7, 2021 |archive-url=https://web.archive.org/web/20210707014302/https://www.thethinkera.com/tech-gadgets/coinbase-app-listed-in-us-trade-market/ |url-status=live}}

In March 2021, Coinbase fell under review by the Office of Foreign Assets Control, with concerns that the company may have provided their blockchain service to blacklisted individuals or companies, noting that the nature of blockchain technology makes it "technically infeasible" to prevent specific users from making transactions.{{Cite web |last=Brasseur |first=Kyle |title=OFAC crypto crackdown: Coinbase disclosures under review |url=https://www.complianceweek.com/sanctions/ofac-crypto-crackdown-coinbase-disclosures-under-review/30115.article |access-date=March 22, 2021 |website=Compliance Week |language=en |archive-date=March 10, 2021 |archive-url=https://web.archive.org/web/20210310014517/https://www.complianceweek.com/sanctions/ofac-crypto-crackdown-coinbase-disclosures-under-review/30115.article |url-status=live}}{{Cite news |last=Sun |first=Mengqi |date=March 3, 2021 |title=Coinbase Transactions Under Review by U.S. Sanctions Enforcer |language=en-US |work=The Wall Street Journal |url=https://www.wsj.com/articles/coinbase-transactions-under-review-by-u-s-sanctions-enforcer-11614803086 |access-date=March 22, 2021|issn=0099-9660 |archive-date=March 22, 2021 |archive-url=https://web.archive.org/web/20210322042739/https://www.wsj.com/articles/coinbase-transactions-under-review-by-u-s-sanctions-enforcer-11614803086 |url-status=live}} That same month, Coinbase announced that it was establishing a business presence in India and hiring employees for IT services, including engineering, software development and customer support operations. The company also announced plans to open a physical office in Hyderabad.{{cite web |title=Coinbase is now hiring in India |url=https://blog.coinbase.com/coinbase-is-now-hiring-in-india-23d02803568 |website=Coinbase |access-date=March 27, 2021 |language=en |date=March 25, 2021 |archive-date=November 2, 2021 |archive-url=https://web.archive.org/web/20211102063153/https://blog.coinbase.com/coinbase-is-now-hiring-in-india-23d02803568 |url-status=live}}{{cite news |last1=Chandrashekhar |first1=Anandi |title=IPO-bound Coinbase begins hiring in India |url=https://economictimes.indiatimes.com/jobs/ipo-bound-coinbase-begins-hiring-in-india/articleshow/81689964.cms |website=The Economic Times |access-date=March 27, 2021 |archive-date=March 25, 2021 |archive-url=https://web.archive.org/web/20210325125556/https://economictimes.indiatimes.com/jobs/ipo-bound-coinbase-begins-hiring-in-india/articleshow/81689964.cms |url-status=live}}

In April 2021, with its final earnings release before its April 14 direct listing, Coinbase reported a nine-fold increase in first-quarter revenue, to US$1.8 billion, up from US$90.6 million the previous year. The jump was attributed to the increase in the price of bitcoin over that period.{{cite web |url=https://www.cnbc.com/2021/04/06/coinbase-reports-estimated-q1-revenue-of-1point8-billion-up-nine-fold.html |title=Coinbase estimates Q1 revenue jumped nine-fold to about $1.8 billion ahead of public market debut |website=CNBC |date=April 6, 2021 |access-date=April 9, 2021 |archive-date=April 8, 2021 |archive-url=https://web.archive.org/web/20210408191631/https://www.cnbc.com/2021/04/06/coinbase-reports-estimated-q1-revenue-of-1point8-billion-up-nine-fold.html |url-status=live}}

On April 14, 2021, Coinbase became a public company on the Nasdaq exchange via a direct stock listing.{{cite web |last1=Levy |first1=Ari |title=Coinbase gets reference price of $250 per share from Nasdaq ahead of today's direct listing |url=https://www.cnbc.com/2021/04/13/coinbase-reference-price-250-ahead-of-direct-listing.html |website=CNBC |date=April 13, 2021 |archive-date=April 21, 2021 |archive-url=https://web.archive.org/web/20210421012355/https://www.cnbc.com/2021/04/13/coinbase-reference-price-250-ahead-of-direct-listing.html |url-status=live}}{{Cite web |title=Coinbase S-1 |url=https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm |access-date=February 28, 2021 |archive-date=May 28, 2021 |archive-url=https://web.archive.org/web/20210528075409/https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm |url-status=live}}{{Cite news |last=Vigna |first=Paul |date=February 25, 2021 |title=Coinbase Files for Public Offering |work=The Wall Street Journal |url=https://www.wsj.com/articles/coinbase-files-for-public-offering-11614265432 |issn=0099-9660|archive-date=March 26, 2021 |archive-url=https://web.archive.org/web/20210326233623/https://www.wsj.com/articles/coinbase-files-for-public-offering-11614265432 |url-status=live}} Before the listing, Nasdaq set a reference price of US$250 a share, giving the company an estimated value of US$47 billion.{{cite news |url=https://www.scmp.com/business/banking-finance/article/3129472/coinbases-impending-us-listing-throws-spotlight-nasdaq |title=Coinbase's impending US listing throws the spotlight on Nasdaq as bitcoin's value soars to record |work=South China Morning Post |date=April 14, 2021 |accessdate=April 14, 2021 |archive-date=April 14, 2021 |archive-url=https://web.archive.org/web/20210414064800/https://www.scmp.com/business/banking-finance/article/3129472/coinbases-impending-us-listing-throws-spotlight-nasdaq |url-status=live}} At the end of its first day of trading, Coinbase closed at US$328.28 per share.{{Cite web |last=Giles |first=Margaret |date=April 16, 2021 |title=Coinbase Makes Waves With a Direct Public Offering |url=https://www.morningstar.com/articles/1033894/coinbase-makes-waves-with-a-direct-public-offering |access-date=April 23, 2021 |website=Morningstar.com |language=en-US |archive-date=April 23, 2021 |archive-url=https://web.archive.org/web/20210423142339/https://www.morningstar.com/articles/1033894/coinbase-makes-waves-with-a-direct-public-offering |url-status=live}} In May, the company's chief people officer published a blog post announcing that Coinbase was eliminating salary and equity negotiations during recruiting, citing salary disparities with women and minorities. The announcement said that "all employees in the same position, in the same location, receive the same salary and equity offer".{{cite news |url=https://blog.coinbase.com/how-coinbase-is-rethinking-its-approach-to-compensation-9aaf7d5d638e |title=How Coinbase is rethinking its approach to compensation |website=Medium |date=May 10, 2021 |accessdate=September 14, 2021 |archive-date=November 10, 2021 |archive-url=https://web.archive.org/web/20211110091905/https://blog.coinbase.com/how-coinbase-is-rethinking-its-approach-to-compensation-9aaf7d5d638e |url-status=live}}

In June, Coinbase added Dogecoin to its tradable assets for Coinbase Pro users.{{Cite web |last=La Monica |first=Paul R. |title=Dogecoin surges after Coinbase says some users can trade it |url=https://www.cnn.com/2021/06/02/investing/dogecoin-surge-coinbase/index.html |access-date=June 4, 2021 |website=CNN Business |date=June 3, 2021 |archive-date=June 3, 2021 |archive-url=https://web.archive.org/web/20210603184424/https://www.cnn.com/2021/06/02/investing/dogecoin-surge-coinbase/index.html |url-status=live}}{{Cite web |last=Barrabi |first=Thomas |date=June 6, 2021 |title=Coinbase adds Dogecoin to platform amid surge in interest |url=https://www.foxbusiness.com/markets/coinbase-adds-dogecoin-platform-surge-interest |access-date=June 4, 2021 |website=FOXBusiness |language=en-US |archive-date=June 4, 2021 |archive-url=https://web.archive.org/web/20210604000038/https://www.foxbusiness.com/markets/coinbase-adds-dogecoin-platform-surge-interest |url-status=live}} In September, the U.S. Securities and Exchange Commission reportedly threatened to sue Coinbase if the company decided to launch a cryptocurrency lending product called Lend.{{cite web |title=U.S. markets regulator takes aim at Coinbase lending product |url=https://www.reuters.com/technology/sec-threatens-sue-coinbase-over-crypto-lending-programme-2021-09-08/ |website=Reuters |date=September 8, 2021 |access-date=September 12, 2021 |archive-date=September 11, 2021 |archive-url=https://web.archive.org/web/20210911231910/https://www.reuters.com/technology/sec-threatens-sue-coinbase-over-crypto-lending-programme-2021-09-08/ |url-status=live}} The company initially responded in a blog post that it was confused for being singled out by the SEC, but later announced it had cancelled the planned launch. Technology publication TechCrunch covered the story and noted the existence of similar cryptocurrency lending products already on the market.{{cite web |title=Following SEC lawsuit threat, Coinbase cancels launch of 'Lend' product |url=https://techcrunch.com/2021/09/20/following-sec-lawsuit-threat-coinbase-cancels-launch-of-lend-product/ |website=TechCrunch |date=September 20, 2021 |access-date=November 8, 2021 |archive-date=November 8, 2021 |archive-url=https://web.archive.org/web/20211108152003/https://techcrunch.com/2021/09/20/following-sec-lawsuit-threat-coinbase-cancels-launch-of-lend-product/ |url-status=live}}

In November, Coinbase made its first acquisition in India by purchasing AI-powered support platform Agara for an estimated US$40 to US$50 million. The company stated that it would utilize Agara's technology to automate its customer experience tools.{{Cite web |title=Coinbase to acquire India's Agara for over $40 million |url=https://techcrunch.com/2021/11/01/coinbase-acquires-indias-agara-for-over-40-million/ |access-date=November 18, 2021 |website=TechCrunch |date=November 2, 2021 |language=en-US |archive-date=December 23, 2021 |archive-url=https://web.archive.org/web/20211223083719/https://techcrunch.com/2021/11/01/coinbase-acquires-indias-agara-for-over-40-million/ |url-status=live}}

On December 15 a display glitch vastly inflated balances such that numerous users were, albeit briefly, trillionaires.{{Cite web |url=https://www.bloomberg.com/news/articles/2021-12-14/crypto-prices-go-haywire-on-coinbase-other-data-providers |title=Crypto Prices Go Haywire on Coinbase, CoinMarketCap.com |first=Olga |last=Kharif |date=December 14, 2021 |website=Bloomberg |access-date=December 17, 2021 |archive-date=December 17, 2021 |archive-url=https://web.archive.org/web/20211217185617/https://www.bloomberg.com/news/articles/2021-12-14/crypto-prices-go-haywire-on-coinbase-other-data-providers |url-status=live}}

In February 2022, Coinbase's 60-second commercial during Super Bowl LVI involved a QR code to direct viewers to the company's webpage and was effective, according to Adweek.{{Cite web |last=Miller |first=Shannon |date=February 13, 2022 |title=The 10 Best Super Bowl Ads of 2022 |url=https://www.adweek.com/agencies/the-10-best-super-bowl-ads-of-2022/ |url-status=live |archive-url=https://web.archive.org/web/20220215094600/https://www.adweek.com/agencies/the-10-best-super-bowl-ads-of-2022/ |archive-date=February 15, 2022 |access-date=February 15, 2022 |work=AdWeek}} In the following month, in response to the 2022 Russian invasion of Ukraine, Coinbase blocked 25,000 cryptocurrency wallet addresses related to Russia.{{Cite news |date=March 8, 2022 |title=Crypto platform blocks thousands of Russia-linked wallets |language=en-GB |work=BBC News |url=https://www.bbc.com/news/technology-60661763 |access-date=March 13, 2022

|archive-date=March 13, 2022 |archive-url=https://web.archive.org/web/20220313135453/https://www.bbc.com/news/technology-60661763 |url-status=live}}

Coinbase began operations in India in April 2022.{{cite news |last1=Mittal |first1=Apoorva |last2=Mishra |first2=Digbijay |title=Coinbase India UPI Payments: Regulatory heat forces Coinbase to halt UPI payments in just three days |url=https://economictimes.indiatimes.com/tech/technology/coinbase-temporarily-stops-upi-after-npci-clarification/articleshow/90759225.cms?from=mdr |access-date= August 5, 2022 |work=The Economic Times |date=April 10, 2022 |archive-date=August 6, 2022 |archive-url=https://web.archive.org/web/20220806092155/https://economictimes.indiatimes.com/tech/technology/coinbase-temporarily-stops-upi-after-npci-clarification/articleshow/90759225.cms?from=mdr |url-status=live}} The company initially relied on Unified Payments Interface to allow users to convert rupees to cryptocurrencies, but ceased using UPI after a statement released by the National Payments Corporation of India indicating it was "not aware of any crypto exchange using UPI". This statement forced Coinbase to suspend most of its business in India.{{cite news |last1=Yaffe-Bellany |first1=David |last2=Isaac |first2=Mike |title=The Humbling of Coinbase |url=https://www.nytimes.com/2022/08/05/business/coinbase-crypto.html |access-date=August 5, 2022 |work=The New York Times |date=August 5, 2022 |archive-date=August 5, 2022 |archive-url=https://web.archive.org/web/20220805232853/https://www.nytimes.com/2022/08/05/business/coinbase-crypto.html |url-status=live}} Users in India cannot convert rupees into cryptocurrency but can trade between different cryptocurrencies.

In May 2022, Coinbase-backed Mara raised US$$23 million to build an African crypto Exchange.{{Cite web |date=2022-05-15 |title=MARA raises $23m to build Africa's crypto economy portal |url=https://guardian.ng/business-services/mara-raises-23m-to-build-africas-crypto-economy-portal/ |access-date=2023-05-19 |website=The Guardian Nigeria News - Nigeria and World News |language=en-US |archive-date=November 1, 2022 |archive-url=https://web.archive.org/web/20221101124427/https://guardian.ng/business-services/mara-raises-23m-to-build-africas-crypto-economy-portal/ |url-status=live }} On June 14, 2022, the company announced it would be laying off approximately 18% of its workforce, about 1,100 full-time jobs, amid the global downturn in cryptocurrencies and services.{{cite news |url=https://www.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html |title=Coinbase lays off 18% of its workforce and warns of 'crypto winter' |website=CNN |date=June 14, 2022 |access-date=June 14, 2022 |archive-date=June 14, 2022 |archive-url=https://web.archive.org/web/20220614141153/https://www.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html |url-status=live}} In August 2022, Coinbase announced a partnership with BlackRock, a venture which allows BlackRock clients to use their Aladdin investment management system to oversee their exposure to bitcoin along with other portfolio assets, and to facilitate trading on Coinbase's exchange.{{cite web |url=https://www.bloomberg.com/news/articles/2022-08-04/blackrock-teams-up-with-coinbase-in-crypto-market-expansion |title=BlackRock Teams Up With Coinbase in Crypto Market Expansion |date=August 4, 2022 |last=Brush |first=Silla |work=Bloomberg News |url-access=limited |access-date=August 4, 2022 |archive-date=February 4, 2023 |archive-url=https://web.archive.org/web/20230204201158/https://www.bloomberg.com/news/articles/2022-08-04/blackrock-teams-up-with-coinbase-in-crypto-market-expansion |url-status=live}}{{cite web |url=https://www.ft.com/content/57435d7a-c384-4fe5-b2b6-747b44363c5b |title=Coinbase forges deal to give BlackRock clients access to crypto |date=August 4, 2022 |first1=Oliver |last1=Ralph |first2=Scott |last2=Chipolina |first3=Harriet |last3=Agnew |work=Financial Times |url-access=limited |access-date=August 4, 2022 |archive-date=August 4, 2022 |archive-url=https://web.archive.org/web/20220804231920/https://www.ft.com/content/57435d7a-c384-4fe5-b2b6-747b44363c5b |url-status=live}}

In October 2022, Coinbase entered into a partnership with Google Cloud Platform that would allow the latter's customers to pay for cloud services with cryptocurrencies supported by Coinbase Commerce. Coinbase also agreed to transfer its data-related applications from Amazon Web Services to Google Cloud.{{cite web |last1=Novet |first1=Jordan |title=Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool |url=https://www.cnbc.com/2022/10/11/google-selects-coinbase-to-take-cloud-payments-with-cryptocurrencies.html |website=CNBC |date=October 11, 2022 |access-date= October 12, 2022 |language=en-US |archive-date=October 12, 2022 |archive-url=https://web.archive.org/web/20221012163029/https://www.cnbc.com/2022/10/11/google-selects-coinbase-to-take-cloud-payments-with-cryptocurrencies.html |url-status=live}}

On January 10, 2023, Coinbase announced it would be laying off around 950 employees, incurring restructuring expenses of up to US$163 million. Citing the possibility of "further contagion" following the collapse of the FTX exchange, Brian Armstrong said Coinbase would be "shutting down several projects where we have a lower probability of success".{{cite web |last1=Saini |first1=Manya |last2=Nishant |first2=Niket |title=Crypto contagion deepens: Coinbase to lay off about 950 employees |url=https://www.reuters.com/business/finance/crypto-exchange-coinbase-slash-nearly-1000-jobs-2023-01-10/ |website=Reuters |access-date=January 12, 2023 |language=en |date=January 10, 2023 |archive-date=January 12, 2023 |archive-url=https://web.archive.org/web/20230112022235/https://www.reuters.com/business/finance/crypto-exchange-coinbase-slash-nearly-1000-jobs-2023-01-10/ |url-status=live}}

In February 2023, Coinbase launched its own layer 2 blockchain on Ethereum, based on MIT-licensed OP Stack of layer-2 blockchain Optimism.{{Cite web |last=Melinek |first=Jacquelyn |date=February 23, 2023 |title=Coinbase launches blockchain Base to help developers build dApps on-chain |url=https://techcrunch.com/2023/02/23/coinbase-launches-blockchain-base-to-help-developers-build-dapps-on-chain/ |website=TechCrunch}}{{Cite web |date=February 23, 2023 |title=Coinbase to Launch Blockchain Network as Part of DeFi, NFT Expansion |url=https://www.bloomberg.com/news/articles/2023-02-23/coinbase-coin-debuts-base-blockchain-as-part-of-defi-nft-push |via=www.bloomberg.com}} In April 2023, the company announced that its Coinbase Bermuda division had been licensed to operate cryptocurrencies in Bermuda.{{cite news |last=Howcroft |first=Elizabeth |date=20 April 2023 |title=U.S. crypto exchange Coinbase secures Bermuda licence |url=https://www.reuters.com/technology/us-crypto-exchange-coinbase-secures-bermuda-licence-2023-04-20/ |url-status=live |archive-url=https://web.archive.org/web/20230724071841/https://www.reuters.com/technology/us-crypto-exchange-coinbase-secures-bermuda-licence-2023-04-20/ |archive-date=July 24, 2023 |access-date=July 24, 2023 |publisher=Reuters}}{{Cite web |date=2023-04-20 |title=Coinbase получила лицензию Бермудских островов для запуска офшорной биржи |url=https://www.rbc.ru/crypto/news/6440dcae9a79478c59af1459 |url-status=live |archive-url=https://web.archive.org/web/20230627142301/https://www.rbc.ru/crypto/news/6440dcae9a79478c59af1459 |archive-date=June 27, 2023 |access-date=June 27, 2023 |website=RBC |language=ru}} The next month, the company launched the Bermuda-based crypto derivatives exchange, named Coinbase International Exchange, allowing non-U.S. customers to trade bitcoin and Ethereum futures.{{Cite web |last=Weiss |first=Ben |date=2 May 2023 |title=Coinbase offshore exchange launches with Bitcoin and Ethereum futures |url=https://fortune.com/crypto/2023/05/02/coinbase-to-launch-offshore-exchange-bermuda-this-week-after-regulatory-license-perpetual-futures/ |url-status=live |archive-url=https://web.archive.org/web/20230724071841/https://fortune.com/crypto/2023/05/02/coinbase-to-launch-offshore-exchange-bermuda-this-week-after-regulatory-license-perpetual-futures/ |archive-date=July 24, 2023 |access-date=July 24, 2023 |work=Fortune}} In July 2023, Coinbase was reported to have leased 40,000 sq.ft. of office space in Mountain View, California within the Bay Area. This followed the company's prior closing of its San Francisco headquarters amid its transformation to become a remote-first and headquarterless company.{{Cite news |last=Bote |first=Joshua |date=July 20, 2023 |title=After abandoning San Francisco HQ, Coinbase takes on new Bay Area office space |url=https://www.sfgate.com/tech/article/coinbase-bay-area-office-space-18210992.php |access-date=February 15, 2025 |work=SFGATE}}{{Cite web |last=Naidu |first=Pawan |date=2023-07-17 |title=Coinbase leases office space at Silicon Valley tech center |url=https://therealdeal.com/san-francisco/2023/07/17/coinbase-leases-office-space-at-silicon-valley-tech-center/ |access-date=2025-02-15 |website=The Real Deal |language=en}}

In December 2024, Coinbase added Apple Pay support to its Onramp platform (formerly known as Coinbase Pay), allowing users of third-party apps to fund their crypto purchases directly through Apple’s payment service. The supported cryptocurrencies included bitcoin, ether, Dogecoin and others present on the crypto exchange.{{Cite web |last=Chaturvedi |first=Vinamrata |date=2024-12-02 |title=Now you can use Apple Pay to buy crypto from Coinbase |url=https://qz.com/coinbase-crypto-apple-pay-1851711411 |access-date=2025-03-05 |website=Quartz (publication) |language=en}}

In May 2025, Coinbase disclosed that they had been targeted by a significant cyber attack that could cost the company between $180m (£135m) and $400m (£300m), after hackers breached account data belonging to a “small subset” of its users. Coinbase said it received an email from an unknown threat actor on 11 May, claiming access to sensitive customer details and internal company documents. The company confirmed that the attackers accessed names, addresses, and emails, but did not obtain login credentials and passwords.{{Cite web |last=Koopman |first=Saskia |date=2025-05-15 |title=Cyber attack: Coinbase warns of $400m hit after data breach |url=https://www.cityam.com/cyber-attack-coinbase-warns-of-400m-hit-after-data-breach/ |access-date=2025-05-16 |website=City AM |language=en-GB}}

On 22 March 2023, Coinbase received a Wells notice from the U.S. Securities and Exchange Commission (SEC) signalling that the SEC intended to begin an enforcement action over Coinbase's staking products. Coinbase responded by calling the investigation "cursory", and stated that it would continue to operate as usual.{{cite news |last1=Allyson |first1=Versprille |last2=Yueqi |first2=Yang |last3=Sonali |first3=Basak |title=Coinbase Gets SEC Notice Signaling Intent to Sue Over Crypto Offerings |url=https://www.bloomberg.com/news/articles/2023-03-22/coinbase-coin-gets-sec-wells-notice-over-crypto-offerings |website=Bloomberg News |date=2023-03-22 |access-date=23 March 2023 |archive-date=March 23, 2023 |archive-url=https://web.archive.org/web/20230323142134/https://www.bloomberg.com/news/articles/2023-03-22/coinbase-coin-gets-sec-wells-notice-over-crypto-offerings |url-status=live }}{{Subscription required}}{{cite news |author1= |title=U.S. SEC threatens to sue Coinbase over some crypto products |url=https://www.reuters.com/legal/coinbase-issued-wells-notice-by-sec-2023-03-22/ |access-date=23 March 2023 |work=Reuters |date=22 March 2023 |language=en |archive-date=March 23, 2023 |archive-url=https://web.archive.org/web/20230323155159/https://www.reuters.com/legal/coinbase-issued-wells-notice-by-sec-2023-03-22/ |url-status=live }}{{cite press release |last=Grewal |first=Paul |date=2023-03-22 |title=We asked the SEC for reasonable crypto rules for Americans. We got legal threats instead. |url=https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal |access-date=23 March 2023 |archive-date=March 23, 2023 |archive-url=https://web.archive.org/web/20230323155124/https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal |url-status=live }} The next month, Coinbase sued the SEC asking a federal court to force the regulator to respond to a rulemaking petition the company submitted last year asking it to make clear regulations pertaining cryptocurrencies.{{cite news |last=Lang |first=Hannah |date=2023-04-24 |title=Coinbase files legal challenge to push SEC to write rules on crypto |url=https://www.reuters.com/legal/coinbase-files-legal-challenge-push-sec-write-rules-crypto-2023-04-25/ |publisher=Reuters |access-date=April 25, 2023 |archive-date=April 25, 2023 |archive-url=https://web.archive.org/web/20230425093221/https://www.reuters.com/legal/coinbase-files-legal-challenge-push-sec-write-rules-crypto-2023-04-25/ |url-status=live }} In June 2023, the SEC said it was suing Coinbase, alleging that the company had been acting as an unregistered broker, exchange and clearing agency since 2019,{{cite web |title=SEC Sues Coinbase—Alleges Crypto Trading Platform Operated As Unregistered Exchange Since 2019 |url=https://www.forbes.com/sites/jonathanponciano/2023/06/06/sec-sues-coinbase-alleges-crypto-trading-platform-operated-as-unregistered-exchange-since-2019/?sh=2ea46d7d548c |website=Forbes |access-date=6 June 2023 |archive-date=June 6, 2023 |archive-url=https://web.archive.org/web/20230606123638/https://www.forbes.com/sites/jonathanponciano/2023/06/06/sec-sues-coinbase-alleges-crypto-trading-platform-operated-as-unregistered-exchange-since-2019/?sh=2ea46d7d548c |url-status=live }}{{cite web |title=SEC charges Coinbase for illegally operating an unregistered securities exchange |url=https://www.marketwatch.com/story/sec-charges-coinbase-for-illegally-operating-an-unregistered-securities-exchange-4ebb5ac0 |website=MarketWatch |access-date=6 June 2023 |archive-date=June 6, 2023 |archive-url=https://web.archive.org/web/20230606124156/https://www.marketwatch.com/story/sec-charges-coinbase-for-illegally-operating-an-unregistered-securities-exchange-4ebb5ac0 |url-status=live }} requesting that the company be "permanently restrained and enjoined" from doing so.{{cite web |title=SEC sues Coinbase over exchange and staking programs, stock drops 14% pre-market |url=https://www.cnbc.com/2023/06/06/sec-sues-coinbase-over-exchange-and-staking-programs-stock-drops-14percent.html?&qsearchterm=coinbase |website=CNBC |date=June 6, 2023 |access-date=6 June 2023 |archive-date=June 6, 2023 |archive-url=https://web.archive.org/web/20230606123117/https://www.cnbc.com/2023/06/06/sec-sues-coinbase-over-exchange-and-staking-programs-stock-drops-14percent.html?&qsearchterm=coinbase |url-status=live }} The SEC also alleged that Coinbase never registered its staking service as required by U.S. securities laws.{{cite news |title=Coinbase Sued by SEC for Breaking US Securities Rules |url=https://www.bloomberg.com/news/articles/2023-06-06/coinbase-sued-by-sec-for-breaking-us-securities-rules |website=Bloomberg News |date=June 6, 2023 |access-date=6 June 2023 |archive-date=June 6, 2023 |archive-url=https://web.archive.org/web/20230606123157/https://www.bloomberg.com/news/articles/2023-06-06/coinbase-sued-by-sec-for-breaking-us-securities-rules |url-status=live }}{{Subscription required}}

In February 2025, the SEC dismissed its lawsuit against Coinbase, putting an end to a legal battle between the two.{{Cite web |last=Lang |first=Hannah |date=2025-02-28 |title=US securities regulator files to dismiss lawsuit against Coinbase |url=https://www.reuters.com/technology/us-sec-announces-dismissal-civil-enforcement-action-against-coinbase-2025-02-27/ |access-date=2025-03-05 |website=Reuters}}{{Cite web |last=Huang |first=Vicky Ge |date=2025-02-28 |title=SEC Dismisses Lawsuit Against Coinbase |url=https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-02-27-2025/card/sec-dismisses-lawsuit-against-coinbase-xUCA4d7yG9DyzoQp3POa |access-date=2025-03-05 |website=The Wall Street Journal |language=en-US}}

In March 2025, Coinbase said it was the largest node operator on the Ethereum network, controlling 11.42% of all staked Ether (ETH).{{cn|date=May 2025}}

In May 2025, Coinbase disclosed an extortion attempt where cybercriminals bribed rogue overseas support agents to steal customer data for social engineering attacks. The stolen data included personal and account information, but no passwords, private keys, or funds. Coinbase refused to pay the $20 million ransom that was asked and instead offered a $20 million reward for information leading to the attackers' conviction.{{Cite web |title=Protecting Our Customers - Standing Up to Extortionists |url=https://www.coinbase.com/blog/protecting-our-customers-standing-up-to-extortionists |access-date=2025-05-15 |website=www.coinbase.com |language=en}}{{Cite web |last=Roberts |first=Jeff John |title=Coinbase puts $20 million bounty on crooks who tried to extort firm over stolen customer data |url=https://fortune.com/crypto/2025/05/15/coinbase-puts-20-million-bounty-on-crooks-who-tried-to-extort-firm-over-stolen-customer-data/ |access-date=2025-05-15 |website=Fortune Crypto |language=en}} The company said "less than 1 per cent" of its data was impacted.{{Cite web |date=2025-05-15 |title=Crypto exchange Coinbase faces up to $400m hit from cyber attack |url=https://www.bbc.co.uk/news/articles/c80k5plpx8do |access-date=2025-05-15 |website=BBC News |language=en-GB}} On May 15, 2025, Coinbase announced it expected the attack would cost the company up to $400 million. Wired reported that Coinbase would reimburse customers up to $400 million.{{cite web |title=Security News This Week: Coinbase Will Reimburse Customers Up to $400 Million After Data Breach |url=https://www.wired.com/story/coinbase-will-reimburse-customers-up-to-400-million-after-data-breach/ |website=www.website.com |publisher=Wired |access-date=18 May 2025}}

On May 8, 2025 Coinbase announced the acquisition of Deribit, a Dubai-based cryptocurrency derivatives exchange, for $700 million in cash and $2.2 billion worth of Coinbase stock. The acquisition is the largest of its kind in the cryptocurrency industry.{{cite news |last1=Macheel |first1=Tanaya |title=Coinbase acquires crypto derivatives exchange Deribit for $2.9 billion |url=https://www.cnbc.com/2025/05/08/coinbase-acquires-crypto-derivatives-exchange-deribit-for-2point9-billion.html |access-date=18 May 2025 |work=CNBC |date=8 May 2025 |language=en}}

Coinbase was included in the S&P 500 index on May 19, 2025.{{Cite web |last=Levy |first=Ari |date=2025-05-12 |title=Coinbase joining S&P 500 days after bitcoin soared past $100,000 |url=https://www.cnbc.com/2025/05/12/coinbase-joining-sp-500-replacing-discover-financial.html |access-date=2025-05-22 |website=CNBC |language=en}}

As of 2025, Coinbase operates the largest U.S.-based cryptocurrency exchange with over 108 million customers.{{Cite news |last=Yaffe-Bellany |first=David |date=2025-02-22 |title=Big Day for Crypto Goes South in a Hurry After a Giant Hack |url=https://www.nytimes.com/2025/02/22/technology/crypto-exchange-bybit-hack.html |access-date=2025-03-05 |work=The New York Times |language=en-US |issn=0362-4331}}{{Cite news |last=Stempel |first=Jonathan |last2=Lang |first2=Hannah |last3=Mccrank |first3=John |date=2023-06-07 |title=US tightens crackdown on crypto with lawsuits against Coinbase, Binance |url=https://www.reuters.com/legal/us-sec-sues-coinbase-over-failure-register-2023-06-06/ |access-date=2025-03-05 |work=Reuters |language=en-US}} It offers products for retail and institutional cryptocurrency investors, as well as other users.

The company's products for retail traders include

• Coinbase, an app used to buy, store and trade different cryptocurrencies
• Coinbase One, a feed-based plan for premium features and services{{Cite web |last=Friedberg |first=Barbara |date=2024-06-24 |title=U.S. News Reviews Coinbase in 2025 |url=https://money.usnews.com/investing/best-brokers/coinbase |access-date=2025-03-05 |website=U.S. News & World Report}}
• Coinbase Advanced (formerly Coinbase Pro), a professional asset trading platform for trading digital assets{{cite web |url=https://www.cnbc.com/2021/06/01/coinbase-pro-opens-to-dogecoin-after-currencys-6000percent-gain-this-year.html |title=Coinbase Pro opens up to dogecoin after cryptocurrency's 6,000% gain this year |website=CNBC |date=June 1, 2021 |access-date=July 19, 2021 |archive-date=July 19, 2021 |archive-url=https://web.archive.org/web/20210719223325/https://www.cnbc.com/2021/06/01/coinbase-pro-opens-to-dogecoin-after-currencys-6000percent-gain-this-year.html |url-status=live}}
• Coinbase Wallet, an app that allows customers to access decentralized crypto applications (dapps) using a dapp browser{{cite web |url=https://techcrunch.com/2020/03/25/coinbase-wallet-lets-you-earn-interest-with-deeper-defi-integration/ |title=Coinbase Wallet lets you earn interest with deeper DeFi integration |website=TechCrunch |date=March 25, 2020 |access-date=March 26, 2021 |archive-date=March 27, 2021 |archive-url=https://web.archive.org/web/20210327085939/http://techcrunch.com/2020/03/25/coinbase-wallet-lets-you-earn-interest-with-deeper-defi-integration/ |url-status=live}}
• USD Coin, a digital stablecoin, issued by Circle Internet Financial in which Coinbase holds an equity stake{{Cite web |last=Browne |first=Ryan |date=2023-08-22 |title=Coinbase takes stake in stablecoin firm Circle, shuts down joint venture as it sees 'regulatory clarity' |url=https://www.cnbc.com/2023/08/22/coinbase-takes-stake-in-stablecoin-firm-circle-shuts-down-usdc-consortium.html |access-date=2025-03-25 |website=CNBC |language=en}}{{Cite web |last=Nguyen |first=Lananh |last2=Chowdhury |first2=Divya |date=2025-01-20 |title=Circle CEO expects imminent US executive orders to widen crypto |url=https://www.reuters.com/technology/circle-ceo-expects-imminent-us-executive-orders-widen-crypto-2025-01-20/ |access-date=2025-03-25 |website=Reuters}}
• Coinbase Card, a debit Visa card that allows customers to spend cryptocurrency
• Coinbase Earn, a staking service in which cryptocurrency holders volunteer to take part in validating transactions on the blockchain.{{Cite web |last=Nishant |first=Niket |date=2023-03-23 |title=U.S. SEC threatens to sue Coinbase over some crypto products |url=https://www.reuters.com/legal/coinbase-issued-wells-notice-by-sec-2023-03-22/ |access-date=2025-03-05 |website=Reuters}} The process involves users staking, or locking, their crypto on the blockchain and earning interest (staking rewards) from the network.

For businesses seeking crypto products and services, Coinbase offers Coinbase Commerce, a payment service that allows merchants to accept cryptocurrency in their stores, with features including payment buttons, hosted checkout pages and invoices. For its institutional clients, the company offers Coinbase Custody, which holds bitcoin and other cryptocurrencies on behalf of their customers in secure "cold storage accounts" not connected to the Internet, and Coinbase Prime, a trading platform.{{Cite web |last=Reutzel |first=Bailey |date=2023-01-30 |title=Coinbase review: A crypto exchange for new investors and traders |url=https://www.cnbc.com/select/coinbase-crypto-exchange-review/ |access-date=2025-03-05 |website=CNBC |language=en}}

Additionally, Coinbase provides Coinbase Developer Platform for developers and non-technical users, which facilitates "on-chain" actions like balance checks, ETH testnet requests, and asset transfers. These functionalities allow the users to experiment with autonomous blockchain operations, aiming to improve the experience while executing smart contract transactions and other decentralized actions.{{Cite web |last=Kirui |first=Jared |date=2024-10-28 |title=Coinbase and Tether Launch Blockchain AI Tools for Developers |url=https://www.financemagnates.com/cryptocurrency/coinbase-and-tether-launch-blockchain-ai-tools-for-developers/ |access-date=2025-03-05 |website=Finance Magnates |language=en}} The company also provides an application programming interface (API) for developers and merchants to build applications and accept payments in digital currencies.{{cite web |date=December 20, 2017 |title=Coinbase may have given away its own Bitcoin Cash surprise |url=https://techcrunch.com/2017/12/20/coinbase-bch-bitcoin-cash-api-reddit/ |url-status=live |archive-url=https://web.archive.org/web/20210814090740/https://techcrunch.com/2017/12/20/coinbase-bch-bitcoin-cash-api-reddit/ |archive-date=August 14, 2021 |access-date=July 19, 2021 |website=Techcrunch}}

Although cryptocurrencies can assure anonymous trade in principle, Coinbase trades are not anonymous: Registered users are required to provide their taxpayer identification, and the transactions are reported to the IRS.{{Cite magazine |last= |first= |title=Cryptocurrency's Myth of Anonymity |url=https://www.wired.com/story/gadget-lab-podcast-585/ |url-status=live |archive-url=https://web.archive.org/web/20230811230102/https://www.wired.com/story/gadget-lab-podcast-585/ |archive-date=August 11, 2023 |access-date=2023-08-14 |magazine=Wired |language=en-US |issn=1059-1028}}{{Cite web |title=Are Cryptocurrency Transactions Actually Anonymous? |url=https://www.cnet.com/personal-finance/crypto/are-cryptocurrency-transactions-actually-anonymous/ |url-status=live |archive-url=https://web.archive.org/web/20230811225607/https://www.cnet.com/personal-finance/crypto/are-cryptocurrency-transactions-actually-anonymous/ |archive-date=August 11, 2023 |access-date=2023-08-14 |website=CNET |language=en}} Also, even though Coinbase offers more than 250 different cryptocurrencies to U.S. customers as of 2023, it does not trade Monero and other cryptocurrencies with enhanced anonymity protection due to "know your customer" (KYC) requirements in accordance with anti–money laundering regulations.{{Cite web |last=Dean |first=Jake |date=November 17, 2021 |title=The Bitcoin Competitor Beloved by the Alt-Right and Criminals |url=https://slate.com/technology/2021/11/monero-privacy-coin-racists-cybercriminals.html |url-status=live |archive-url=https://web.archive.org/web/20230908081012/https://slate.com/technology/2021/11/monero-privacy-coin-racists-cybercriminals.html |archive-date=September 8, 2023 |access-date=September 8, 2023 |website=Slate}}{{Cite web |last=Trumm |first=James F. |date=June 14, 2022 |title=How Does Coinbase Work? |url=https://www.miamiherald.com/money/how-does-coinbase-work/ |url-status=live |archive-url=https://web.archive.org/web/20240421115528/https://www.miamiherald.com/money/how-does-coinbase-work/ |archive-date=April 21, 2024 |access-date=September 8, 2023 |work=Miami Herald}}

From 2021 to 2025, Coinbase operated as a remote-first company and has no physical headquarters. In 2025, Coinbase leased a large office space in San Francisco to serve as a physical headquarters and operations hub.{{Cite web |last=Dioquino |first=Vince |date=May 30, 2025 |title=Coinbase to Open New San Francisco Office After Dropping HQ Model |url=https://decrypt.co/322979/coinbase-open-new-san-francisco-office-dropping-hq-model |access-date=June 4, 2025 |website=decrypt}} The company also announced a large office opening in Charlotte, North Carolina to serve as its "Center of Excellence."{{Cite web |last=Sands |first=Alexandria |date=June 3, 2025 |title=Coinbase to Open New San Francisco Office After Dropping HQ Model |url=https://www.axios.com/local/charlotte/2025/06/03/coinbase-110-east-south-end-crypto-jobs-fintech |access-date=June 4, 2025 |website=Axios}}

In April 2019, a U.K. corporate filing stated that Coinbase's non-U.S. revenue grew 20 percent to €153 million (US$173 million) in 2018 resulting in a net profit of €6.6 million.{{Cite web |last=Field |first=Matthew |date=April 15, 2019 |title=Coinbase UK makes £130m but growth slows as Bitcoin bubble bursts |url=https://www.telegraph.co.uk/technology/2019/04/15/coinbase-uk-makes-130m-growth-slows-bitcoin-bubble-bursts/ |url-status=live |archive-url=https://web.archive.org/web/20190417132250/https://www.telegraph.co.uk/technology/2019/04/15/coinbase-uk-makes-130m-growth-slows-bitcoin-bubble-bursts/ |archive-date=April 17, 2019 |access-date=April 18, 2019 |website=The Telegraph}} Coinbase U.K. CEO Zeeshan Feroz said the company's non-U.S. operations accounted for nearly one-third of the company's overall revenue and Reuters estimated that the company's global revenue totalled "around {{US dollar|520}} million" in 2018.{{Cite web |last=Wilson |first=Tom |date=April 18, 2019 |title=Big corporates back crypto 'plumbing' despite currency caution |url=https://uk.reuters.com/article/uk-crypto-currencies-vc/big-corporates-back-crypto-plumbing-despite-currency-caution-idUKKCN1RU0KV |url-status=dead |archive-url=https://web.archive.org/web/20190418070937/https://uk.reuters.com/article/uk-crypto-currencies-vc/big-corporates-back-crypto-plumbing-despite-currency-caution-idUKKCN1RU0KV |archive-date=April 18, 2019 |access-date=April 18, 2019 |website=Reuters |language=en}}

In 2021, as part of its SEC filing to go public, Coinbase reported 43 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. It also reported net revenue of US$1.14 billion in 2020, up from US$483 million the previous year. The company also reported a net income of US$322 million after posting a loss in 2019.{{cite web |url=https://www.fool.com/investing/2021/03/03/9-numbers-to-know-about-coinbase-before-it-goes-pu/ |title=9 Numbers to Know About Coinbase Before It Goes Public |website=The Motley Fool |date=March 3, 2021 |access-date=March 26, 2021 |archive-date=April 7, 2021 |archive-url=https://web.archive.org/web/20210407171103/https://www.fool.com/investing/2021/03/03/9-numbers-to-know-about-coinbase-before-it-goes-pu/ |url-status=live}} Out of the US$782 billion worth of assets on the crypto market, some US$90 billion worth were held on the Coinbase platform.

In a May 2022 Form 10-Q filing, Coinbase stated that "because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors".{{cite web |title=FORM 10-Q |url=https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F1679788%2F000167978822000048%2Fcoin-20220331.htm |url-status=live |archive-url=https://web.archive.org/web/20220511121736/https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F1679788%2F000167978822000048%2Fcoin-20220331.htm |archive-date=May 11, 2022 |access-date=11 May 2022 |website=U.S. Securities and Exchange Commission}}{{cite web |date=May 11, 2022 |title=Coinbase Will Keep Customer Balances in Event of Bankruptcy Bearish Market Takes Toll on Financials in First Quarter |url=https://finance.yahoo.com/news/coinbase-keep-customer-balances-event-103410414.html |url-status=live |archive-url=https://web.archive.org/web/20220511121736/https://finance.yahoo.com/news/coinbase-keep-customer-balances-event-103410414.html |archive-date=May 11, 2022 |access-date=11 May 2022 |website=Yahoo! Finance}}{{cite news |date=May 11, 2022 |title=Coinbase Says No Bankruptcy Risk Amid Black Swan Event |url=https://www.bloomberg.com/news/articles/2022-05-11/coinbase-ceo-says-no-risk-of-bankruptcy-amid-black-swan-event |url-status=live |archive-url=https://web.archive.org/web/20220511121736/https://www.bloomberg.com/news/articles/2022-05-11/coinbase-ceo-says-no-risk-of-bankruptcy-amid-black-swan-event |archive-date=May 11, 2022 |access-date=11 May 2022 |website=Bloomberg News}} The company reported a net loss of US$1.1 billion in the second quarter of 2022, a record for Coinbase.{{cite news |last1=Kharif |first1=Olga |last2=Yang |first2=Yueqi |date=August 10, 2022 |title=Coinbase Disappoints With User Forecast, Revenue Miss |url=https://www.bloomberg.com/news/articles/2022-08-09/coinbase-falls-after-second-quarter-revenue-misses-estimates |url-access=limited |url-status=live |archive-url=https://web.archive.org/web/20230204201202/https://www.bloomberg.com/news/articles/2022-08-09/coinbase-falls-after-second-quarter-revenue-misses-estimates |archive-date=February 4, 2023 |access-date=August 10, 2022 |work=Bloomberg}}

As of 2025, Coinbase is the world's largest custodian of bitcoin, holding over 12% of all bitcoin in existence. It also holds over 11% of all staked Ether and other digital assets like solana. In its 2024 annual report, the company said it was managing digital assets worth US$404 billion on its platform.{{Cite web |last=Coinbase Global, Inc. |date=2025-02-13 |title=Form 10-K: Annual Report Persuant to Section 13 Or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2024 |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001679788/000167978825000022/coin-20241231.htm |access-date=2025-03-06 |website=U.S. Securities and Exchange Commission}}

As of 2025, Coinbase has received an "A+" rating by the Better Business Bureau.{{Cite web |last=Campbell |first=Tessa |last2=Shaya |first2=Elias |last3=Kane |first3=Libby |date=2025-05-21 |title=What to know about Coinbase after the crypto exchange was hacked |url=https://www.businessinsider.com/personal-finance/investing/coinbase-investing-review |access-date=2025-05-21 |website=Business Insider |language=en-US}}{{Cite web |title=Coinbase, Inc {{!}} BBB Business Profile {{!}} Better Business Bureau |url=https://www.bbb.org/us/ca/san-francisco/profile/financial-services/coinbase-inc-1116-454104 |access-date=2025-05-21 |website=www.bbb.org |language=en}} From 2018 to 2023, the company received an "F" rating from the bureau due to poor customer service. Common customer complaints included being locked out of their accounts despite providing the required information for reinstatement, as well as finding it "nearly impossible" to reach support when assistance was needed.{{cite news |last1=Morse |first1=Jack |title=Coinbase says its problem days are over. Better Business Bureau disagrees. |url=https://mashable.com/article/coinbase-better-business-bureau-complaints |access-date=20 May 2025 |work=Mashable |date=3 July 2018 |language=en}}{{cite web |title=Coinbase, Inc {{!}} Better Business Bureau Profile |url=https://web.archive.org/web/20230402011122/https://www.bbb.org/us/ca/san-francisco/profile/financial-services/coinbase-inc-1116-454104 |website=web.archive.org |access-date=20 May 2025 |date=2 April 2023}}

On February 16, 2018, Coinbase admitted that some customers were overcharged in error for credit and debit purchases of cryptocurrencies. The problem was initiated when banks and card issuers changed the merchant category code (MCC) for cryptocurrency purchases earlier that month. This meant that cryptocurrency payments would now be processed as "cash advances", meaning that banks and credit card issuers could begin charging customers cash advance fees for cryptocurrency purchases. Customers who purchased cryptocurrency on their exchange between January 22 and February 11, 2018, could have been affected. At first, Visa blamed Coinbase, telling the Financial Times on February 16 that it had "not made any systems changes that would result in the duplicate transactions cardholders are reporting". However, the latest statement from Visa and Worldpay on the Coinbase blog clarifies: "This issue was not caused by Coinbase".{{Cite news |date=February 5, 2018 |title=Update: VISA issuers and Mastercard make it harder to buy Bitcoin and other cryptocurrencies |language=en-US |work=TechCrunch |url=https://techcrunch.com/2018/02/05/visa-and-mastercard-make-it-harder-to-buy-bitcoin-and-other-cryptocurrencies/ |archive-url=https://web.archive.org/web/20180205225549/https://techcrunch.com/2018/02/05/visa-and-mastercard-make-it-harder-to-buy-bitcoin-and-other-cryptocurrencies/ |url-status=dead |archive-date=February 5, 2018 |access-date=November 29, 2018}}

In March 2018, the Quartz news Web site reported that the number of monthly customer complaints against Coinbase jumped more than 100 percent in January of that year, to 889, citing official Consumer Financial Protection Bureau data, with more than 400 of those categorized as "money was not available when promised".{{Cite news |last=Detrixhe, John |date=March 5, 2018 |title=Coinbase's customer complaints more than doubled in January |work=Quartz |url=https://qz.com/1220367/coinbases-customer-complaints-more-than-doubled-in-january/ |access-date=March 6, 2018 |archive-date=March 5, 2018 |archive-url=https://web.archive.org/web/20180305223248/https://qz.com/1220367/coinbases-customer-complaints-more-than-doubled-in-january/ |url-status=live}} The article also noted that the company was subsequently increasing its customer service staff to reduce wait times.

In March 2021, Coinbase agreed to pay US$6.5 million to settle regulatory claims that it had reported misleading information about its trading volumes.{{Cite web |date=March 21, 2021 |title=Coinbase fined $6.5 million over cryptocurrency trading claims |url=https://www.engadget.com/coinbase-fined-by-cftc-over-cryptocurrency-trading-181047477.html |url-status=live |archive-url=https://web.archive.org/web/20210321233817/https://www.engadget.com/coinbase-fined-by-cftc-over-cryptocurrency-trading-181047477.html |archive-date=March 21, 2021 |access-date=March 22, 2021 |website=Engadget |language=en-US}}{{Cite news |last=Michaels |first=Dave |date=March 19, 2021 |title=Coinbase to Pay $6.5 Million to Settle CFTC Investigation Over Trading |url=https://www.wsj.com/articles/coinbase-to-pay-6-5-million-to-settle-cftc-investigation-over-trading-11616192411 |url-status=live |archive-url=https://web.archive.org/web/20210321235219/https://www.wsj.com/articles/coinbase-to-pay-6-5-million-to-settle-cftc-investigation-over-trading-11616192411 |archive-date=March 21, 2021 |access-date=March 22, 2021 |work=Wall Street Journal |language=en-US |issn=0099-9660}} In December 2021, CNBC reported that Coinbase froze the cryptocurrency GYEN due to a sudden price spike, resulting in many traders losing money.{{Cite web |last=Javers |first=Scott Zamost, Eamon |date=2021-12-08 |title=Coinbase customers demand refunds over GYEN stablecoin glitch |url=https://www.cnbc.com/2021/12/08/coinbase-customers-demand-refunds-over-gyen-stablecoin-glitch.html |access-date=2021-12-08 |website=CNBC |language=en |archive-date=December 8, 2021 |archive-url=https://web.archive.org/web/20211208190555/https://www.cnbc.com/2021/12/08/coinbase-customers-demand-refunds-over-gyen-stablecoin-glitch.html |url-status=live}}

In January 2023, Coinbase agreed to pay a US$50 million penalty to the New York State Department of Financial Services (NYDFS) over allegations that the cryptocurrency exchange broke anti-money laundering laws. The company was also required to invest an additional US$50 million in its compliance program to help prevent future violations. According to the NYDFS, Coinbase was unable to keep up with the number of alerts from its transaction monitoring system, a tool that was supposed to detect suspicious activity on the trading platform. Coinbase allegedly amassed a backlog of over 100,000 alerts, resulting in the company failing to report and investigate suspicious transactions in a timely manner.{{Cite web |last=Roth |first=Emma |date=2023-01-04 |title=Coinbase fined $50 million over claims it violated anti-money laundering laws |url=https://www.theverge.com/2023/1/4/23538731/coinbase-fine-crypto-money-laundering-laws-new-york |access-date=2025-03-05 |website=The Verge |language=en-US}} That same month, the Dutch Central Bank (DNB) fined Coinbase €3.3 million for failing to obtain the correct registration in the Netherlands before offering services. Coinbase said in response that it disagreed with the DNB's decision, which it said "includes no criticism of our actual services" and was considering an appeal.{{Cite news |last=Sterling |first=Toby |last2=Goodman |first2=David |last3=Richardson |first3=Alex |date=2023-01-26 |title=Dutch central bank fines cryptocurrency exchange Coinbase 3.3 mln euros |url=https://www.reuters.com/business/finance/dutch-central-bank-fines-cryptocurrency-exchange-coinbase-33-mln-euros-2023-01-26/ |access-date=2025-03-06 |work=Reuters |language=en-US}}

In July 2024, Coinbase's U.K. branch was fined £3.5 million by the British regulator Financial Conduct Authority (FCA) after the former's breach of the voluntary agreement brokered between the two in October 2020. According to the voluntary agreement, Coinbase had agreed to not accept new users that the regulator considered high-risk. The FCA said that breaches of the agreement increased the risk that criminals could use Coinbase to launder the proceeds of crime. Coinbase stated in response that it had unintentionally onboarded a number of customers between October 2020 and October 2023 who were classified as high-risk and that those customers represented 0.34% of all customers on-boarded.{{Cite web |last=Butler |first=Eleanor |date=2024-07-25 |title=Crypto firm Coinbase fined millions for serving high-risk customers |url=https://www.euronews.com/business/2024/07/25/crypto-firm-coinbase-fined-millions-for-serving-high-risk-customers |access-date=2025-03-05 |website=euronews |language=en}}

{{Main|SEC v. Wahi}}

On July 22, 2022, a former Coinbase product manager, Ishan Wahi, along with Nikhil Wahi (Ishan's brother) and Sameer Ramani (a friend), was charged in the first-ever insider trading case in cryptocurrency by prosecutors for the Southern District of New York and the Securities and Exchange Commission.{{Cite news |date=July 21, 2022 |title=Ex-Coinbase Manager Arrested in US Crypto Insider-Trading Case |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-07-21/ex-coinbase-manager-arrested-in-us-crypto-insider-trading-case |access-date=July 22, 2022 |archive-date=July 21, 2022 |archive-url=https://web.archive.org/web/20220721222946/https://www.bloomberg.com/news/articles/2022-07-21/ex-coinbase-manager-arrested-in-us-crypto-insider-trading-case |url-status=live }} According to the complaint filed in SEC v. Wahi, Ishan Wahi allegedly shared information that certain tokens were about to be listed by Coinbase with Nikhil Wahi and Ramani, who then allegedly acted upon that information to make trades for an alleged illicit profit over US$1.5 million.{{Cite web |author=((Reuters staff)) |title=U.S. charges ex-Coinbase manager in first crypto insider trading case |url=https://www.cnn.com/2022/07/21/tech/first-crypto-insider-trading/index.html |access-date=July 22, 2022 |website=CNN |date=July 21, 2022 |archive-date=July 21, 2022 |archive-url=https://web.archive.org/web/20220721181715/https://www.cnn.com/2022/07/21/tech/first-crypto-insider-trading/index.html |url-status=live }} According to federal prosecutors, Ishan Wahi purchased a one-way ticket to India upon being summoned by Coinbase to the company's Seattle office for a meeting. Wahi was subsequently intercepted by law enforcement from boarding a May 16 flight to India. Coinbase's chief security officer, Philip Martin, noted that the company provided prosecutors with information from an internal investigation.

On January 10, 2023, Nikhil Wahi was sentenced to ten months in prison after he admitted to making trades based on confidential information from Coinbase. U.S. District Judge Loretta Preska said Wahi's crime was "not an isolated error in judgment".{{cite web |last1=Cohen |first1=Luc |title=Ex-Coinbase manager's brother sentenced to 10 months in insider trading case |url=https://www.reuters.com/legal/ex-coinbase-managers-brother-sentenced-10-months-insider-trading-case-2023-01-10/ |website=Reuters |access-date=January 12, 2023 |language=en |date=January 10, 2023 |archive-date=January 12, 2023 |archive-url=https://web.archive.org/web/20230112003637/https://www.reuters.com/legal/ex-coinbase-managers-brother-sentenced-10-months-insider-trading-case-2023-01-10/ |url-status=live }} Ishan Wahi originally pleaded not guilty but entered a guilty plea on February 7, 2023.{{cite web |title=Former Coinbase Insider Pleads Guilty In First-Ever Cryptocurrency Insider Trading Case |url=https://www.justice.gov/usao-sdny/pr/former-coinbase-insider-pleads-guilty-first-ever-cryptocurrency-insider-trading-case |website=www.justice.gov |access-date=8 February 2023 |language=en |date=7 February 2023 |archive-date=February 8, 2023 |archive-url=https://web.archive.org/web/20230208154939/https://www.justice.gov/usao-sdny/pr/former-coinbase-insider-pleads-guilty-first-ever-cryptocurrency-insider-trading-case |url-status=live }} On May 9, 2023, Ishan Wahi was sentenced to two years in prison and ordered to forfeit various crypto assets that he received in connection with the scheme.{{cite web |title=Southern District of New York {{!}} Former Coinbase Insider Sentenced In First Ever Cryptocurrency Insider Trading Case {{!}} United States Department of Justice |url=https://www.justice.gov/usao-sdny/pr/former-coinbase-insider-sentenced-first-ever-cryptocurrency-insider-trading-case |website=www.justice.gov |access-date=10 May 2023 |language=en |date=9 May 2023 |archive-date=May 11, 2023 |archive-url=https://web.archive.org/web/20230511063727/https://www.justice.gov/usao-sdny/pr/former-coinbase-insider-sentenced-first-ever-cryptocurrency-insider-trading-case |url-status=live }} Ramani remains at large.{{cite web |last1=Godoy |first1=Jody |title=Coinbase Ex-Manager Sentenced to 2 Years in Prison in US Insider Trading Case |url=https://www.usnews.com/news/technology/articles/2023-05-09/coinbase-ex-manager-sentenced-to-2-years-in-prison-in-us-insider-trading-case |website=US News & World Report |publisher=Reuters |access-date=10 May 2023 |archive-date=May 17, 2023 |archive-url=https://web.archive.org/web/20230517002520/https://www.usnews.com/news/technology/articles/2023-05-09/coinbase-ex-manager-sentenced-to-2-years-in-prison-in-us-insider-trading-case |url-status=live }}

{{Portal|Business}}

• List of bitcoin companies

{{Reflist}}

{{Sister project auto}}

• {{Official website|https://www.coinbase.com}}

{{Finance links

| name = Coinbase Global, Inc.

| symbol = COIN

| reuters = COIN.O

| sec_cik = 1679788

| yahoo = COIN

| google = COIN:NASDAQ

}}

{{Cryptocurrency exchanges}}

Category:Bitcoin exchanges

Category:Y Combinator companies

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Category:Bitcoin companies

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